Instant Personal Loans

Get Personal Loans that Fit Your Life - Smart, Simple & Transparent. Borrow from ₹10,000 to ₹10 Lakh. Compare offers across trusted lenders - all in minutes, with no hidden fees.

Instant Personal Loans

Get Personal Loans that Fit Your Life - Smart, Simple & Transparent. Borrow from ₹10,000 to ₹10 Lakh. Compare offers across trusted lenders - all in minutes, with no hidden fees.
Medical Emergency
Medical Emergency
Wedding Expenses
Wedding Expenses
Debt Consolidation
Debt Consolidation
Home Renovation
Home Renovation
Personal loan applicant
Customer rating
4.5 out of 5 star customer rating
4.5/5 2061 reviews

50M+

Satisfied customers

35+

Lending Partners

4000CR+

Money Disbursed
Medical Emergency
Medical Emergency
Wedding Expenses
Wedding Expenses
Debt Consolidation
Debt Consolidation
Home Renovation
Home Renovation
Personal loan applicant
Customer rating
4.5 out of 5 star customer rating
4.5/5 2061 reviews

50M+

Satisfied customers

35+

Lending Partners

4000CR+

Money Disbursed

Best Personal Loan Offers from Leading Banks & NBFCs

Poonawalla Fincorp logo
Poonawalla Fincorp
100% Digital Process*
Quick Disbursal
Max. Loan Amt.
Upto 15 Lacs
Rate of Interest
11.5% onwards
Tenure upto
Upto 84 Months
Processing Time
Instant
Apply
Aditya Birla Capital Limited logo
Aditya Birla Capital Limited
100% Digital Process*
Quick Disbursal
Max. Loan Amt.
Upto 6 Lacs
Rate of Interest
16% onwards
Tenure upto
Upto 60 Months
Processing Time
Instant
Apply
Prefr logo
Prefr
100% Digital Process*
Quick Disbursal
Max. Loan Amt.
Upto 5 Lacs
Rate of Interest
17.99% onwards
Tenure upto
Upto 48 Months
Processing Time
Instant
Apply
Hero Fincorp logo
Hero Fincorp
100% Digital Process*
Quick Disbursal
Max. Loan Amt.
Upto 5 Lacs
Rate of Interest
19% onwards
Tenure upto
Upto 36 Months
Processing Time
Instant
Apply
Mpokket logo
Mpokket
100% Digital Process*
Quick Disbursal
Max. Loan Amt.
Upto 30000
Rate of Interest
24% onwards
Tenure upto
Upto 12 months
Processing Time
Instant
Apply
Show more offers
Show less offers

Why Choose Paisawaala?

How Can I Apply for a Personal Loan Online?

Step 1: Enter your mobile number in the application form.

Step 2: Enter OTP to verify your mobile number.

Step 3: Provide some mandatory personal details.

Step 4: Select the loan purpose and loan amount.

Step 5: Compare offers and apply for the best-suited loan.

Apply
Quote

Directly from Expert

At Paisawaala, we're committed to making access to personal credit simple, transparent, and hassle-free for everyone. Our platform brings together a wide range of loan options and fully digital processes, helping borrowers find the right lending solution with confidence and ease. With a growing community of satisfied users across India, Paisawaala delivers an experience that is fast, secure, and designed around your financial needs.

Rhishabh Garg
Rhishabh Garg
Business Head

Avail Personal Loan For
All Your Needs

Apply

5 Tips to Choose the Best Personal Loan Online

Choosing a personal loan becomes easier when you know what to compare. At Paisawaala, we simplify this for you by helping you view offers from multiple lenders in one place. Here are five smart tips to guide your decision:

1. Compare offers from multiple lenders

Review interest rates, estimated EMI, loan amount, processing time, and required documents. Shortlist 2–3 lenders that offer the best blend of affordability and speed.

2. Check offers from lenders you already bank with

Your existing bank or credit card issuer may extend pre-approved or easier personal loan options. These usually come with faster verification, better rates, or lower processing fees.

3. Look at the total cost, not just the rate

Processing fees, prepayment rules, foreclosure charges, and penalties can significantly change your actual cost. Always check the full cost breakdown before finalizing an offer.

4. Pick a tenure that suits your monthly budget

Shorter tenures reduce total interest but increase EMI. Choose a repayment plan that fits comfortably within your monthly budget while still reducing your overall cost.

5. Prefer lenders that offer flexible repayment options

If a lender allows low-cost or free part-prepayments, you can repay early whenever you have extra funds. This helps reduce tenure and saves on interest without straining your budget.

Check My Eligibility
Ready to check your personalised personal loan offers

Personal Loan Eligibility Criteria

Personal loan eligibility can differ from one lender to another. To help you get started, here are some common criteria most lenders look for:

Credit Score: Preferably 750 and above

Salary: Usually Rs 15,000–30,000 a month (existing bank relationship may lower this)

Income: At least Rs 2 lakh p.a. (may vary for self-employed professionals)

Employment Stability: At least 1 to 2 years of total work experience

Business Continuity: Usually 3 years

Employer Profile: Salaried employees with government, PSUs, MNCs or reputed corporates

Age Limit: 21–60 years. Self-employed and pensioners may go up to 65 and 75 years respectively

Documents Required for a Personal Loan

Lenders typically request a few essential documents to verify your identity, income, repayment capacity, and address.

Requirements

Salaried Individuals

Self-employed / Non-Professionals

Proof of Identity

Passport, Voter ID, Driving License, Aadhaar or PAN

Passport, Voter ID, Driving License, Aadhaar or PAN

Proof of Residence

Aadhaar Card, Voter ID, Passport or Utility Bills

Aadhaar Card, Voter ID, Passport or Utility Bills

Proof of Income

Salary Slips, Bank Statements, Form 16

Previous Years ITR, P&L Statement, Bank Statements

Swipe to see more table data

Things to Know Before Applying for a Personal Loan

Pre-Approved Loan Offers

Instant loan options for existing bank/NBFC customers.

Very little documentation needed.

Faster verification & disbursal.

May come with better interest rates.

Higher Credit Score = Better Rates

A score of 750+ boosts approval chances.

Higher scores get lower interest rates.

Can unlock pre-approved or quick-approval offers.

Longer Tenure = Lower EMI

Longer tenure reduces your monthly EMI.

Helps manage monthly expenses more comfortably.

Total interest increases with a longer term.

Pick a tenure that keeps EMIs within your comfort zone.

Prepayment & Foreclosure Rules

Floating-rate loans usually have no prepayment charges (RBI rule).

Fixed-rate loans may include part-payment/foreclosure fees.

Always review repayment rules before choosing a lender.

Avail Personal Loan For All Your Needs

Apply Now

Ready to see your personalised offers?

Takes under 2 minutes. No paperwork. No hidden surprises. If you have PAN & salary slips ready, you're halfway there.
Check My Eligibility
Ready to check your personalised personal loan offers

FAQs

A pre-approved personal loan is an instant loan offer given by banks or NBFCs to select customers who have a good credit history and strong repayment record. These loans require minimal documentation and are disbursed quickly—sometimes within a few hours. You can check if you qualify for a pre-approved personal loan offer instantly on PaisaWaala.

Foreclosure occurs when a borrower chooses to repay the entire outstanding principal of a personal loan before the end of its tenure. Part-prepayment, on the other hand, happens when the borrower repays only a portion of the outstanding loan amount while continuing regular EMIs on the remaining balance.

Many banks and lenders charge a prepayment or foreclosure penalty ranging from 2% to 5% of the outstanding loan amount if you choose to repay your personal loan early. Additionally, some banks have a lock-in period during which you are not allowed to foreclose or prepay the loan.

A credit score is a three-digit number ranging from 300 to 900 that reflects your creditworthiness and repayment history. A higher credit score indicates strong financial discipline and responsible credit behavior, which improves your chances of personal loan approval and helps you get better interest rates from lenders.

Personal Loan Features & Benefits:

  • Repayment tenure usually ranges between 1 year and 5 years, with some banks/NBFCs offering longer tenures
  • The interest rates usually start from 10.50% p.a. | 0.875% p.m. with some PSU banks offering lower interest rates
  • Quick disbursals
  • Applicants having excellent credit profiles may also qualify for preapproved/prequalified personal loans with instant disbursal

Personal Loan Eligibility:

  • Age: 18 - 60 years
  • Income: Minimum Rs 15,000/month for salaried applicants
  • Credit Score: Preferably 720 and above as having higher credit scores increase the chances of your loan approval at lower interest rates

Disclaimer:

Paisawaala is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.